How much does it cost to transfer money to Vietnam?

Cost of Transferring Money to Vietnam

Transferring money to Vietnam involves a transaction fee that varies depending on the amount being sent and the method used. Here’s a breakdown of the current costs:

Sending USD to Vietnam

For direct transfers of US dollars to Vietnam, a flat fee of $7.79 will be charged. Additionally, a percentage-based fee of 0.54% of the converted amount will be applied. The total cost, including both the flat fee and the percentage fee, will be clearly displayed before any transaction is initiated.

Example:

If you are sending $1,000 USD to Vietnam, the total cost will be:

• Flat fee: $7.79
• Percentage fee: $1,000 x 0.0054 = $5.40
• Total cost: $13.19

It’s important to note that the exact exchange rate used for the conversion will also affect the total cost.

Other Factors to Consider

Aside from the transaction fee, there may be additional charges to consider when transferring money to Vietnam. These may include:

• Bank processing fees: Some banks may charge a fee for receiving or processing international transfers.
• Intermediary bank fees: If your transfer involves an intermediary bank, they may charge a fee for handling the transaction.

To minimize the overall cost of transferring money to Vietnam, it is advisable to:

• Compare transfer fees: Different service providers offer varying fee structures. Shop around to find the most cost-effective option.
• Use a reputable provider: Choose a reliable and transparent money transfer provider to avoid hidden fees or unfavorable exchange rates.
• Send larger amounts: The percentage-based fee is applied to the converted amount. Sending larger sums reduces the proportionate impact of the fee.
• Consider alternative methods: Explore alternative methods of transferring money, such as wire transfers or digital wallets, which may offer lower fees in some cases.